Allow transactions with old notes till Dec 30, Let Himachal’s cooperative banks conduct transactions: HP CPI(M)

SHIMLA-In order to provide relief to common people, till adequate supply of currency notes are available, transactions with old notes should be allowed till December 30, the date announced by the government after which they will be illegal, again repeated the H.P State Secretariat of the CPI(M) in a statement issued on Saturday.

In the statement, the party alleged that common people of India are facing extremely inhuman harassment. Their day-to-day livelihood has collapsed. There are reports that already around 47 deaths have taken place owing to this decision.

CPI(M) called it an utterly ill conceived decision by the Modi Government to illegalize 1000 and 500 rupees currency notes. This step will intensify the suffering of the people. Instead of taking immediate measures to bring relief to the people, the Government has now reduced the limit of exchanging notes per person from Rs. 4,500 to Rs. 2,000, said the statement. This will hit hard the poorer sections and people will have to spend that much more time converting their meager cash savings.

The decision to make a PAN card compulsory to open an account has made it impossible for the urban and rural poor to open a bank account. The informal sector workers who constitute the bulk of the working class are unable to receive their cash wages. It is extremely difficult, in the present circumstances, for them to open a bank account given the rush in the banks, CPI(M) further said.

The cooperative banking sector is being severely damaged by the ban on their accepting and exchanging notes. This is causing hardships to millions of farmers and the rural populace. The H.P State Secretariat of CPI (M) demanded that the RBI should immediately allow the Kangra Cooperative and the Jogindra cooperative banks to conduct such transactions. The farmers in the state have deposits in these banks. They are suffering due to demonetization. The The party demanded that these decisions should be scrapped.

CPI(M) has made a call for the statewide protests on these demands on Nov 21, 2016.

Photo: Knowledge Upenn.Edu

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